‘You Gotta Be Kidding Me!’ Amazon’s Threat to Back Out Shocks NYC Real Estate
- Long Island City deals will disappear if Amazon backs out
- The company has faced public backlash over plans, subsidies
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Bill Montana was schmoozing with real estate brokers Thursday at an industry event in New York, talking about the biggest deal in years: Amazon.com Inc.’s decision to build a major campus in Queens.
By the next morning the euphoria had evaporated. Reports the tech giant was reconsidering its plans amid a fierce public backlash sent a jolt through the real estate community that was pinning their hopes on a significant pickup in activity.